China banks closed now.

[Dubbag]

So I wonder if the £5M was wired quickly some time today?
If not then the owner has lied as by the time the banks open on Monday, no wait Tuesday it will be 2023 and no money will have been received.
This money should have been transacted in the early hours of this morning to reach the British clearing houses in UK.
He could have used PayPal International Friends & Family and the cost would have been minimum....
We shall see boys and girls....we shall see...

[Barrera]

Don’t worry … we will be the first to hear about it if it does get paid. Gourlay will be trumpeting it from the roof tops as proof of Lai’s good intentions. In the meantime don’t hold your breath …. Would be nice to be wrong of course …

[Dubbag]

Albion have confirmed they are yet to receive the £4.95million loan from controlling shareholder Guochuan Lai – who has sent 'assurances' the fee will be paid 'early in the new year'.
A further delay means the owner has now missed a second deadline to repay the figure he took out of the club in March 2021 to aid Wisdom Smart Corporation, another of his companies.

[Dubbag]

Albion's club statement on New Year's Eve read: "The directors of West Bromwich Albion Football Club remain in dialogue with Controlling Shareholder and Chairman Guochuan Lai regarding an outstanding loan owed to the club by his related party, Wisdom Smart Corporation Limited.

"The £4.95m loan is due for repayment, with interest, today (Saturday, December 31, 2022), and Lai has assured the club’s board of directors the repayment will now be made early in the new year."

[mickd1961]

It’s obvious that if he is paying off this loan it’s with the proceeds of the latest loan!

What an absolute joke.

I hope Peace gets done for corporate fraud for what he did in the initial taking of this loan.

[Leicesterbaggie]

Can somebody explain to me how much Lai actually owes. I’m under the impression that he originally borrowed £5 million plus a later £4.9 million. Is this correct?

[Dubbag]

Can somebody explain to me how much Lai actually owes. I’m under the impression that he originally borrowed £5 million plus a later £4.9 million. Is this correct?

I think he owes only the £5M.
The other loan is from Jeremy Peace's time in charge which has still yet to be paid back.
When Lai bought the club he bought this loan as well. But Peace took the loan out initially....I think...

[baggieal]

It’s obvious that if he is paying off this loan it’s with the proceeds of the latest loan!

What an absolute joke.

I hope Peace gets done for corporate fraud for what he did in the initial taking of this loan.

That’s exactly what the c unt is doing Mick! So paying back the loan and racking up more interest in doing so. Shocking state of affairs but hey - he’s safe in China and HMRC don’t chase the big boys. The football league turn a blind eye too!

Okay - Asante - Dike or Wallace? That Chinese c unt will be thinking which one he can sell first!

New Years Resolution - Lai to stop breathing?

[Leicesterbaggie]

Thanks Dubs. So it was Peace who originally took out the loan and Lai bought the loan when he purchased the club. I may be dim here, but who did Peace take the loan out with and why if he was selling the club?

[Dubbag]

Thanks Dubs. So it was Peace who originally took out the loan and Lai bought the loan when he purchased the club. I may be dim here, but who did Peace take the loan out with and why if he was selling the club?

Don't know the reason for the loan but most likely to use to buy out remaining shareholders at the time...guessing.
To be able to sell the club he had to get rid of the shareholders. Under 90% full stake means minority shareholders have little if any say in the private company, which is what the club is now.